Message #1091
Thursday, March 25, 2004

"Either you decide to stay in the shallow end of the pool or you go out in the ocean."

Christopher Reeve

Today:

Today's message was inspired by the story of Fahri Diner and Xiang-Dong Cao, two lowly engineers who went from being wage-earning employees to being the founders of a world-famous multibillion-dollar company.

Plus:

Dr. Sears' advice on how to get rid of back and joint pain

The difference between tendons and ligaments

What the term "vis-a-vis" means

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How I Became a "Chicken" Entrepreneur

Fahri Diner and Xiang-Dong Cao were sitting around after work having a few beers (I'm making up the details) and complaining about their employer, Siemens Information and Communication Networks in Boca Raton, Florida. Cao was saying that they were not properly appreciated, when Diner said, "Hell, we should start our own business."

"You're damn right," Cao replied.

Several months later, they said goodbye to Siemens and moved into a dusty warehouse. They telephoned former colleagues until they found a handful willing to work for them in exchange for stock. And, with this meager core, they started their own fiber-optics transmission company -- doing essentially the same thing they were doing at Siemens but with a few of their own improvements.

And in a few short months, they were on their way to becoming billionaires as the founders of Qtera.

That, basically, is the same way that I became an entrepreneur . . . a "chicken" entrepreneur.

When I was about 16 years old, I had a summer job as a house painter's assistant in swank Hewlett Bay Harbor, a 20-minute drive from my home (a ramshackle house literally on the other side of the tracks). One day, my friend Peter and I were scraping the shingles of a big yellow mansion -- I can still remember the details -- when the lady of the house, a Mrs. Bernstein, came out asking for Armando, our boss. Armando's routine was to drop us off at the work site at 7 a.m. and disappear until 5 or 6 in the evening.

We were left to do the work, with virtually no experience and only Armando's advice on watering down paint and "dry rolling" the second coat to guide us. (In case you are about to get your house painted . . . dry rolling is when your painters pretend to be giving you a second coat when in fact the rollers are dry. This allows them to get the job done twice as fast and save a bundle on the cost of paint.)

"I'm on to your boss," Mrs. Bernstein said. "How much does that cheap bastard pay you?" We told her. She harrumphed and disappeared inside. When she came out a half-hour later, she announced, "I just fired that good-for-nothing. And if you know what's good for you, you'll be here Monday morning. I'll pay you an extra dollar an hour to finish this job properly."

Some other time, I'll tell you what happened when Armando discovered our duplicity. But the point of this little memoir is to illustrate how I accidentally started working for myself -- and to highlight an important principle of wealth building.

Starting your own business is a scary process. You give up a steady income and go without any assurances for an unknown period of time. You risk embarrassment and failure. Most people -- and I mean 99 out of 100 -- don't have the brass for it.

I didn't. But I was lucky. Mrs. Bernstein gave me the impetus I needed. Had it not been for her, I might be a college teacher today -- earning a modest living and complaining about the administration.

I wonder how many new businesses start this way -- as new shoots from an existing vine. Many, I'd guess. Even most. Because spinning off of an existing enterprise gets you past two of the three biggest new-venture hurdles: knowledge and contacts (vendors, marketers, consultants, etc.).

The great thing about starting a business you're already in is that you can gain the knowledge and make the contacts while you are still an employee. Start by "promoting" yourself. Do the job you want, not the job you have. Learn everything about it. Find out what makes your business grow, how your sales are made, and what, if anything, makes your product or service special.

Also very important:

1. Figure out what is less than perfect about the business you are in.

2. Get friendly with the key suppliers, bankers, and consultants your business uses.

After doing those things, you are only one decision away from going off on your own.

This is basically what Diner and Cao did. Within days after jumping ship, they had an ongoing business competing with their former employer. And two years later, their company, Qtera, was acquired by Canadian optical giant Nortel Networks for $3.25 billion in stock.

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Today's Action Plan:

No, you don't have to be a self-starter to have your own business. You can start as a wage coolie, just as Diner and Cao did, and take advantage of what you have then to create an opportunity for yourself later. Interested? Here's what you need to do. (And what better time than now?)

1. Learn everything you can about your business, especially how sales are made and what, if anything, is unique about the product or service you provide.

2. Become known as a "can-do" employee. You will attract good people, individuals you may want to team up with later.

3. Figure out how to make your company's products or services better. This will become the key to your eventual success. When you go out on your own, you want what MBAs call a "competitive advantage" -- something you do better than your former employer can.

4. Start saving. You are going to need a bank account in order to get by, even if you find a venture-capital partner. Try to stash at least 10% of your take-home pay -- 20% would be better. If this is not possible, consider -- seriously -- a weekend or evening job.

5. Read about business. Take seminars. Educate yourself. Most of all, keep reading these Early to Rise messages.

When you get your first billion-dollar offer, I want a cut.

Get Rid of Back and Joint Pain by Stretching five Minutes a Day

Almost everything I used to do vis-a-vis (see "Word to the Wise," below) stretching was wrong. I wasn't doing it much -- but when I did stretch, I was doing it at the wrong time and in the wrong way. But recently, I've made a lot of progress and have eliminated a good deal of pain by following the advice of Dr. Sears (who is not only the editor of Health Confidential for Men but also my own doctor).

This is what he has to say about stretching:

It does more harm than good to stretch when you are cold.

The purpose of stretching is not to loosen the joints. That makes them less stable and makes you more susceptible to injury. The correct goal of stretching is to create longer and more relaxed muscles that can lengthen on demand without resistance.

The most important parts of the body to stretch are the front of the shoulders and the front of the hips.

For a lot more information on this subject, Dr. Sears recommends that you read "Relax Into Stretch: Instant Flexibility Through Mastering Muscle Tension" by Pavel Tsatsouline.

It's Good to Know: The Difference Between Tendons and Ligaments

Tendons attach your muscles to your bones. Ligaments attach bones to bones.

Word to the Wise: Vis-a-Vis

"Vis-a-vis" (veez-uh-VEE), which literally means "face to face" in French, is often used to mean either "compared with" or (as in today's example) "in relation to."

Example (as used in today's "stretching" brief, above): "Almost everything I used to do vis-a-vis stretching was wrong."

Protected by U.S. Copyright Law {Title 17 U.S.C. Section 101 et seq., Title 18 U.S.C. Section 2319}: Infringements can be punishable by up to 5 years in prison and $250,000 in fines.

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